The SEC enforces federal securities laws and oversees public companies, stock and bond exchanges, brokers, investment advisers, and mutual funds. It requires companies to disclose accurate financial information to investors and brings civil enforcement actions against fraud and market abuse. Its mission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.
Created by Congress under the Securities Exchange Act of 1934 (15 U.S.C. § 78d; Pub. L. 73-291), it acts within the authority that statute grants. Its actions are subject to judicial review and to congressional oversight and funding.
